China’s Soybean Crush Weekly (Week 30, 2018)

2018-07-30 www.cofeed.com

As the operation rate improves after short-lived machine halt in some mills, national soybean crush this week (July 21st- 27th) resumes to 1,671,350 tonnes, up 66,150 tonnes by 4.12% from 1,605,200 tonnes on the week (1,320,366 tonnes of soybean meal, 317,556 tonnes of soybean oil). Meantime, soybean processing rate (capacity utilization) also rises to 48.38% from 46.47% last week, about 1.91 percentage points higher. Total soybean crush in week 31 next week, according to Cofeed, will probably come into at 1.74 Mln tonnes or so and 1.83 Mln tonnes in week 32 if operation rate further edges up.

Based on current soybean processing capacity, July soybean crush are estimated to be around 7.60 Mln tonnes, lower than 7.6228 Mln tonnes attained in June and 7.95 Mln tonnes year on year.

Soybean crush in year 2017/2018 (as from 1 October 2017) now amounts to 72,857,520 tonnes, a rise of 1,264,443 tonnes or 1.76% as compared to 71,593,077 tonnes in year 2016/17. National soybean crush in calendar year 2018 (as from 1 January 2018) has totaled 48,892,279 tonnes, still 1.3% or 640,379 tonnes below 48,892,279 tonnes on a year-on-year basis.

Figure: Trends of Soybean Weekly Crush in China (2014-2018)

Details for weekly crush are shown as follows:

No.	Area	Soybean Crush (mT)			Operation Rate (Capacity Utilization)
		Week 30	Week 29	Variation	Week 30	Week 29	Variation
1	Jiangsu	362,500	356,800	5,700	60.43%	59.48%	0.95%
2	Shandong	264,100	261,900	2,200	44.10%	43.73%	0.37%
3	Guangdong	186,200	233,700	-47,500	46.10%	57.86%	-11.76%
4	Guangxi	157,800	181,600	-23,800	50.66%	58.30%	-7.64%
5	Tianjin	130,500	119,450	11,050	86.71%	79.37%	7.34%
6	Hebei	118,000	86,000	32,000	64.84%	47.25%	17.58%
7	Fujian	103,200	103,200	0	60.92%	60.92%	0.00%
8	Liaoning	84,500	71,000	13,500	37.55%	31.55%	6.00%
9	Zhejiang	53,400	30,800	22,600	45.96%	26.51%	19.45%
10	Jilin	43,400	0	43,400	56.36%	0.00%	56.36%
11	Henan	37,750	28,950	8,800	31.35%	24.04%	7.31%
12	Hubei	35,000	37,000	-2,000	71.43%	75.51%	-4.08%
13	Shaanxi	24,800	30,800	-6,000	80.52%	100.00%	-19.48%
14	Shanghai	17,500	2,500	15,000	67.57%	9.65%	57.92%
15	Sichuan	13,500	18,900	-5,400	32.14%	45.00%	-12.86%
16	Heilongjiang	10,600	5,600	5,000	6.31%	3.33%	2.98%
17	Hunan	8,200	8,800	-600	41.84%	44.90%	-3.06%
18	Chongqing	7,500	16,800	-9,300	35.71%	80.00%	-44.29%
19	Jiangxi	7,000	7,000	0	58.82%	58.82%	0.00%
20	Inner Mongolia	3,500	2,000	1,500	29.41%	16.81%	12.61%
21	Anhui	2,400	2,400	0	14.91%	14.91%	0.00%
22	Shanxi	0	0	0	0.00%	0.00%	0.00%
23	Xinjiang	0	0	0	0.00%	0.00%	0.00%
	China Total	1,671,350	1,605,200	66,150	48.38%	46.47%	1.91%

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